Last chance saloon for Greece

8 July, 2015

It looks like Greece has finally been given an ultimatum by its creditors in a last ditch attempt to save the country from leaving the Eurozone. A deal must be presented by Thursday with the deadline of Sunday to thrash out the details and agree on a new bailout. But given the Greek government’s approach to negotiations since it came to power in January, anything can happen in that time. The ECB has made it clear that their support for Greek banks will end next week and the Eurogroup has “a Grexit scenario prepared in detail” if a deal is not struck. The odds of a new deal being agreed are heavily stacked against the optimists, if indeed there are any optimists left. We can expect volatility to remain high going into the weekend and certainly next week if Grexit ensues.

Away from Greece today’s other important market events include the UK’s emergency budget and this evening’s FOMC minutes. Both could move the markets, in the case of the budget scrutiny will be given on the OBR’s growth forecasts given the deterioration of the situation in the Eurozone and proposed welfare cuts, which in turn could give insight into when that first rate hike from the Bank of England will come. The FOMC minutes have greater potential to move the dollar where investors will want to see how improved inflation prospects and wage growth might translate into greater potential for a September rate hike, but given the dovish bias to growth forecasts and external threats to the US economy that remain we feel September is too early for the Fed to make its first move.


Source link  
Profit-taking after big sell-off

There is a demand for profit-taking in the markets after powerful movements at the end of last week and a very aggressive trading start...

Hot August for currency markets

This August seems hot. Not only temperature but also currency market volatility is rising. The period of active vacations, which is accompanied by a decrease in volumes...

Dollar is close to its important levels

The demand for dollar, provoked by the fears of new US sanctions against a number of countries and expanding trade conflict with China push the American currency close...


Trump raises stakes in the trade war

Two opposite trends prevail in the global markets. Strong reporting of companies, including Apple indicators supports the demand in world...

USD grows on high GDP expectations

The single currency is traded near weekly lows against the dollar, getting under pressure after maintaining the soft tone of the ECB during the regular meeting...

Facebook failure obscured optimism

Yesterday the markets enjoyed a rare portion of good news on international trade. Trump and Juncker agreed not to introduce new tariffs for the period of negotiations...


Trump tosses dollar from highs

The dollar remained under pressure after the Trump's criticism about the strengthening of the national currency. Despite doubts that the influence of the president...

Oil hits 3-month lows

On Monday, the dynamics of oil was in the spotlight on a combination of negative factors by both the potential demand and the supply part. Asian markets...

Fed Monetary Policy Report to be released

This report is release twice a year and provides an insight into the conduct of monetary policy and economic developments and prospects for the future for the...


In the past 24 hours Bitcoin has lost -1.48% and reached $6403.77625124. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.3466% and is now at $1.138. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -4.07% and is now at $304.257425757. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets89%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro80%
5FIBO GroupFIBO Group78%
6FXCMFXCM73%
7AvaTradeAvaTrade68%
8HotForexHotForex67%
9Alfa-ForexAlfa-Forex66%
10XMXM66%
  


Share: